CCI gives nod to Reliance Communications, Aircel merger

The Competition Commission of India (CCI) has given its approval to demerger of Reliance Communications (RCom) wireless division into Aircel Ltd. and Dishnet Wireless Ltd. The combined entity will have assets worth Rs. 65,000 crore. The merger already has received approval from the Securities and Exchange Board of India (SEBI) as well as from the stock exchanges BSE and NSE. It will also reduce RCom’s debt by Rs 20,000 crore while Aircel’s debt would go down by Rs 4,000 crore closing in 2017.